Sunday, 21 September 2014
Last updated 2 days ago
Dec 11 2012 | 9:10am ET
London's public transit employees are more than doubling the amount of their pension invested with hedge funds.
Transport for London's pension is boosting its alternatives allocation to 25%, from 13% in March. Just a year ago, the scheme, which faces a £1.2 billion shortfall, had just over 10% of its assets in hedge funds.
"Trustees have decided to increase the exposure to alternatives, including hedge funds, to improve the fund's risk-adjusted returns," investment officer Padmesh Shukla said.
The beneficiaries of the move are Arrowgrass Capital Partners, Bridgewater Associates and Och-Ziff Capital Management, Reuters reports. The TfL pension already invests with Bridgewater and is boosting its allocation to the firm, while it is in the final stages of investing with the other two.
The pension also currently invests in Davidson Kempner Partners, Gresham Investment Management and BlueCrest Capital Management, although it recently cut its allocation to the latter.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.